issued a statement on the virtual asset (cryptocurrency) ‘WEMIX’ on the 30th. The supplement was released three days after being designated as an investment caution by major domestic virtual asset exchanges.
On the same day, WeMade released a statement stating: “In the future, all shares that will increase circulation in the market will be disclosed on community channels and exchanges before execution and after a contract is signed.”
Earlier, on the 27th, Upbit, a virtual asset exchange, announced that Wemix had been designated as a significant element by the Digital Asset Exchange Joint Association (DAXA). The reason was that there was a difference between the distribution volume plan information presented by Wemix and the actual distribution volume and clear information was not provided to investors in a timely manner.
In this regard, Wemade said: “As the number of partners has increased, there have been cases where a certain amount of Wemix has inevitably been supplied. We have tried to solve the problem that the volume of distribution may be partially different from the original estimate, “he explained.
“However, we recognize that there may be a delay between the publication of the quarterly report and the real-time circulation and that there has been a lack of communication between the circulation update and Coinmarketcap exchanges.”
As a countermeasure and additional measure, WeMade said: “We will entrust all funds owned by the foundation to a trusted third-party custodian.”
He also said: “We will update Wemix’s current notification system and build a complementary system that can ensure timeliness and accuracy by delivering frequent announcements in parallel.” “We will do our best to remove the worrying stocks as soon as possible,” she said.
The price of Wemix, which was trading at 2,550 won until around 4pm on the 27th, plummeted soon after a stock was designated to trade and fell 33% to the 1710 won range the next day. It currently trades at around 1,800 won.
Shin Min-kyung, reporter for Hankyung.com [email protected]
